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Report No. : |
354162 |
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Report Date : |
19.12.2015 |
IDENTIFICATION DETAILS
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Name : |
COMARK INC. |
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Registered Office : |
6789 Millcreek Drive, Mississauga, Ontario L5N 5M4 |
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Country : |
Canada |
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Date of Incorporation : |
30.10.1988 |
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Legal Form : |
Federal Corporation – Profit |
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Line of Business : |
Subject operates a chain of specialty fashion
retail stores. |
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No. of Employee : |
4,500+ |
RATING & COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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56-70 |
A |
Financial & operational base are regarded healthy. General unfavourable
factors will not cause fatal effect. Satisfactory capability for payment of
interest and principal sums |
Fairly Large |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
Canada |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
CANADA ECONOMIC OVERVIEW
As a high-tech industrial society in the trillion-dollar class, Canada resembles the US in its market-oriented economic system, pattern of production, and high living standards. Since World War II, the impressive growth of the manufacturing, mining, and service sectors has transformed the nation from a largely rural economy into one primarily industrial and urban. The 1989 US-Canada Free Trade Agreement (FTA) and the 1994 North American Free Trade Agreement (NAFTA) (which includes Mexico) touched off a dramatic increase in trade and economic integration with the US, its principal trading partner. Canada enjoys a substantial trade surplus with the US, which absorbs about three-fourths of Canadian merchandise exports each year. Canada is the US's largest foreign supplier of energy, including oil, gas, and electric power, and a top source of US uranium imports. Given its abundant natural resources, highly skilled labor force, and modern capital plant, Canada enjoyed solid economic growth from 1993 through 2007. Buffeted by the global economic crisis, the economy dropped into a sharp recession in the final months of 2008, and Ottawa posted its first fiscal deficit in 2009 after 12 years of surplus. Canada's major banks, however, emerged from the financial crisis of 2008-09 among the strongest in the world, owing to the early intervention by the Bank of Canada and the financial sector's tradition of conservative lending practices and strong capitalization. Canada achieved marginal growth in 2010-14 and plans to balance the budget by 2015 despite the recent drop in oil prices. In addition, the country's petroleum sector is rapidly expanding, because Alberta's oil sands significantly boosted Canada's proven oil reserves. Canada now ranks third in the world in proved oil reserves behind Saudi Arabia and Venezuela and is the world’s fifth-largest oil producer.
|
Source
: CIA |
Your order on: BOOTLEGGER
A DIVISION OF COMARK INC
4460
Jacombs Road, Richomond, British Columbia V6V 2C5 –
Canada
The correct name is:
Company name: COMARK INC.
Headquarters: 6789 Millcreek Drive, Mississauga,
Ontario L5N 5M4
Canada
Telephone: +1
905-567-7375
Fax: +1 905-567-5965
Website: www.comark.ca
Corporate ID#: 4240405
State: Federal
Judicial form: Federal Corporation – Profit
Date incorporated: 02-29-2004
Date founded: 01-30-1988
Stock: --
Value: --
Name of
manager: Gerald BACHYNSKI
Business:
Comark Inc. operates a chain of specialty fashion retail
stores in Canada. It retails professional suiting, relaxed separates, and
casual options, including tops and blouses, sweaters, tees and camis, dresses,
pants, leggings, jeans, skirts, blazers, and outerwear; and accessories, such
as earrings, bracelets and rings, necklaces, hats and belts, scarves, handbags,
small accessories, and jewelry.
The company also provides jeans, fashion tops, tees and
tanks, sweaters and cardigans, fleece, jackets and blazers, leggings and pants,
dresses, skirts, capris, shorts, jewelry, and accessories for women; and jeans,
shirts, graphic tees, fashion tees, sweaters, fleece, jackets, pants, and
accessories for men.
In addition, it offers necklaces, bracelets, earrings,
rings, and watches; and accessories, including shapers, socks and tights, home
and gift accessories. The company offers products for working women and younger
adults. It also sells products online.
The company was founded in 1976 and is based in Mississauga,
Canada.
Comark Inc. is a former subsidiary of COFRA Holding AG.
As of August 20, 2015, Comark Inc. operates as a subsidiary
of Pacific West Commercial Corporation.
Comark is a leading Canadian specialty fashion retailer,
serving customers through three popular divisions:
- Ricki's
- Cleo
- Bootlegger
Today, all three divisions are represented across Canada,
and the business has grown to over 300 stores – currently 142 Ricki’s, 91
Bootlegger and 85
Cleo locations.
Staff: 4,500+
Operations & branches:
At above
address, we find a large store, warehouse and office, owned.
It maintains a
BOOTLEGGER store located:
4460 Jacombs Rd, Richmond, British Columbia V6V 2C5, Canada
Ph: +1 604-276-8400
Shareholders:
On August 20, 2015, Pacific West Commercial Corporation, an
affiliate of Vancouver-based Stern Partners Inc., announced the closing of the
previously announced acquisition of the business and assets of Comark Inc.
Management:
Gerald
BACHYNSKI, President and CEO
He has been Chief Executive Officer and President of Comark,
Inc. since December 2007.
He has been Chief Executive Officer and President of Comark,
Inc. since December 2007. Mr. Bachynski served as the President of Ricki's
since 1988 and Chief Operating Officer of Comark, Inc.
Mr. Bachynski began his career with Laventhol & Horwath
in a consulting capacity. He joined the prior family owners of Ricki s in the
Fall of 1975 and was responsible for a variety of business holdings/interests.
After the sale of Ricki’s to Comark, he became General
Manager of Mannequin, an upscale ladies wear division of Ricki s and took over
as President of Ricki s in 1988.
Mr. Bachynski is a former Bell Canada Fellowship winner and
holds both a Bachelor of Commerce (Hons.) degree and an MBA from the University
of Manitoba.
Bill KING, Vice
President and CFO
He serves as Vice President and Chief Financial Officer of
Comark Inc.
Mr. King joined Comark in August 2003 with 16 years
experience in a variety of national and multi-national retail organizations.
Mr. King is responsible for leadership of all Finance, I.T., and Supply Chain
functions within Comark. From 1998 to 2003, he held a number of senior
financial positions, most recently Vice-President, Finance, at Zellers Inc.
From 1996 to 1998, he was Controller of Venator Canada Inc. (now Foot Locker
Inc.) and previously held senior financial roles in both the quick-service
restaurant and supermarket industries. Mr. King is a member of the Institute of
Chartered Accountants of Ontario and holds a Bachelor of Commerce (Hons.)
degree from Memorial University.
Dan SAUCIER,
COO
He serves as the Chief Operating Officer of Comark, Inc. Mr.
Saucier joined Comark in September 2009. He has over 25 years of senior retail
operations experience. Prior to Comark, he served as the Chief Operating
Officer of CMT Clothing operating 130+ stores under the Costa Blanca and Urban
Behavior banners.
Prior to that, he was with the Winner’s/ HomeSense
organization as Senior Vice President Director of Stores, where he was
responsible for senior regional staff and the day to day operations of all 300
stores. Prior to Winners, Mr. Saucier held various senior positions in IKEA
throughout North America.
Subsidiaries
&
Partnership: None
In Canada,
privately held corporations are not required to publish any financials.
On a direct
call, a financial assistant controlled the present report.
Sales declared
for fiscal year ending June 2014 is in the range of
CAD
400,000,000= (same as 2013)
The business is
profitable.
Banks: Royal Bank of Canada
Legal
filings & complaints:
As of today date, there is no legal filing pending with the
Courts.
Secured debts summary:
None
Trade references:
Date reported: November 2015
High credit: CAD 100,000
Now owing: 0
Past due: 0
Last purchase: October 2015
Line of
business: Office supply
Paying status: On terms
Date reported: November 2015
High credit: CAD 5,000,000+
Now owing: 0
Past due: 0
Last purchase: October 2015
Line of
business: Payroll
Paying status: As agreed
Date reported: November 2015
High credit: CAD 12,000
Now owing: 0
Past due: 0
Last purchase: October 2015
Line of
business: Telecommunications
Paying status: On terms
Domestic credit history:
National Credit
Bureaus gave a correct medium credit rating.
According to our credit analysts, during the last 6 months,
domestic payments were made on terms.
International
credit history:
Payments of imports are currently made on terms.
Other comments:
The Company
maintains a regular business.
The Company is
in good standing.
This means that
all local and federal taxes were paid on due date.
Last report was
filed on August 31, 2015.
The risk is
low.
Our opinion:
A business
connection may be conducted.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.42 |
|
|
1 |
Rs.99.17 |
|
Euro |
1 |
Rs.72.14 |
|
USD |
1 |
Rs.66.31 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
KIN |
|
|
|
|
Report Prepared
by : |
ANK |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
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56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
NB |
New Business |
-- |
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is calculated
from a composite of weighted scores obtained from each of the major sections of
this report. The assessed factors and their relative weights (as indicated
through %) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment record
(10%)
Credit history
(10%) Market trend (10%) Operational size
(10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.